HONG KONG(Standard & Poor's CreditWire) Feb. 22, 2001--A new student loan program spearheaded by Citibank, International Finance Corp. (IFC), and NIIT, and which received a Standard & Poor's risk assessment, is helping to fuel India's IT locomotive. The program provides new sources of student funding to NIIT, one of the country's leading private-sector educational institutions for information technology. The US$90 million program, undertaken by Citibank (India) and facilitated with an IFC credit loss guarantee, is India's first large-scale private-sector student loan program and serves as a lesson in how vision, sound risk management, and securitization techniques can be used to tap the full investment potential of developing nations. "In this transaction, we are sharing the risk between three parties, based...
Companies mentioned in this report are:
- India (Republic of)
- International Finance Corp.
Action: S&P Event
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